Israel’s Rental Market: Rising Prices in Jerusalem and Haifa, but Decreasing Overall Costs Across the Country

Rent prices in Jerusalem and Haifa have experienced significant increases, rising by 6.8% and 4.5%, respectively, compared to March of this year. However, the overall cost of rent in the country decreased by 2.5% over the past month. This decrease was mainly seen in Ashkelon (3.3%) and Tel Aviv-Jaffa (3.1%), with declines also recorded in Holon (2.7%), Rishon Lezion (1.4%), Beersheba (0.7%), and Ashdod (0.4%).

In addition to these changes, the supply on the real estate market decreased by an average of 11.3% from February to March, according to mako.co.il. Interestingly, more apartments for rent have appeared in cities in the center of the country, which is thought to be due to new apartments intended for tourists being introduced on the “civilian” market.

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Overall, while rental prices have risen in some areas of Israel, there has been a decrease in overall costs over the past month due to factors such as declining demand and increased supply from new apartments intended for tourists being introduced on the civilian market.

According to reports from mako